Firms Eye Opportunities As Sitharaman Talks Up Defence Industrial Corridor


With the Budget announcing a Chennai-Bengaluru defence industrial corridor, firms in the Coimbatore industrial hub are gearing up for potentially lucrative opportunities in the defence manufacturing sector.

On Monday, in New Delhi, Defence Minister Nirmala Sitharaman pledged her ministry’s support to the “defence production corridor”. She said the stretch from Chennai to Bengaluru, passing through Trichy, Coimbatore, Salem and Hosur, housed a sprawl of ordnance factories and defence public sector units, ready buyers for what small and medium industries in the corridor would produce.

Hoping to benefit are engineering firms such as the Coimbatore-based Shanthi Gears from the low-profile Murugappa Group, a Rs 300 billion group that employs 35,000 workers in 28 companies with 55 manufacturing locations worldwide. Shanthi Gears, a subsidiary of Tube Investments of India (TII), is currently a high-tech supplier of gearing to the automobile industry. It hopes the new corridor would lead to greater participation. Read More…

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